Many sellers put their homes on the market and expect them to sell quickly and for above the asking price. But, even in a seller’s market, not every home sells. Generally speaking, if a home is on the market for longer than 45 days it will be more difficult for the seller to negotiate a deal aligned with their asking price. So, if you’re a seller and you were expecting multiple offers and bidding wars but your home is languishing on the market, you have to wonder why. Here are the top 8 reasons why homes don’t sell:
More likely than not, if a home is sitting on the market gathering dust it’s almost always due to the asking price. Here’s the thing, homebuyers notice when homes are overpriced. You want to price your home competitively and who knows… if you price it just right you might encourage a bidding war. To get the best prediction of what a buyer would pay, consult your real estate agent. They’ll be able to analyze recent sales, neighborhood factors, and the condition of your home to determine a fair asking price.
Accessibility matters. To have the best shot at selling your home quickly, you want as many people to see it (in-person) as possible. Have an action plan in place so that you can step out of your home quickly when a showing request comes in. Access can make or break your ability to get the price you are looking for, or even sell your house at all. Click here for several levels of access you could provide.
The home search begins online and that’s where the first impression is made. If the listing is riddled with sub-par photos and a weak description, homebuyers might lose interest because they can’t see the full potential of the home. Before choosing an agent to work with, snoop the marketing quality of the previous listings that they’ve sold. Are the photos clear, appealing, and professional-looking? Is the description concise, persuasive, and grammatically correct?
Poor Curb Appeal
Never underestimate the power of curb appeal. Homes that are visually appealing and catch the buyer’s attention in the first 7 seconds are more likely to sell quicker and for more money. A little TLC goes a long way! For tips on sprucing up your curb appeal, click here.
The stiff seller’s market doesn’t mitigate the fact that home condition matters. Are there small repairs that need to be made throughout your home? During showings and open houses, buyers take notes of every imperfection. So, get ahead of the game and take care of minor repairs before selling. There are plenty of small DIY projects that can catch the buyer’s eye and increase your selling price. For example, repainting is affordable and has the ability to transform a home. If you don’t already have crown molding, consider installing it. Installing crown molding is a surprisingly easy way to boost the character of your home. Another simple way to add value to your home is to update your fixtures.
You may not be able to smell your own home, but visitors sure can. Err on the side of caution and invite a friend over to get a second opinion. If you find that scents of food or pets are lingering try opening up your windows or testing out scented plug-ins. Or, keep it old school and light a scented candle.
Dirt or Clutter
Potential buyers want to purchase a home that’s been well-maintained. A dirty or cluttered home gives the buyers the impression that maintenance wasn’t a priority. Clutter can distract buyers from looking at the features of the home that are important like the floors or windows. It also makes it hard for them to envision themselves living there. Before listing your home, take some time to “spring clean”, regardless of the season you’re selling in.
Need some spring cleaning tips? Here are some spring cleaning tips for success.
Sellers who hang around the home
Yes, this actually happens. During showings and the open house, make arrangements to step out while potential buyers are inspecting the property. Put yourself in the buyer’s shoes. It’s a little hard to imagine yourself living in a home if you feel like the current owner is hovering over your shoulder.
All of these factors affect how quickly a home will sell, or if it will sell at all. Selling a home is exciting and it’s easy to jump the gun, but preparation and the right Realtor are key to a successful sale. If you’re thinking of selling your home in the Long Beach area, give us a call at 562-896-2456. One of our agents can evaluate your home and provide a list of action items to complete before putting it on the market.